Building material prices to remain high until at least mid-2022 – ING

According to economists at ING, it will take at least until the summer of 2022 before the price of some building materials, notably concrete, bricks and cement drop. The price of timber and steel will probably settle down earlier.

End of high building material prices not expected before mid-2022

“We first need to see some stock improvement, before the prices of building materials such as concrete, bricks and cement stabilise, let alone decrease. So, taking the six to nine months price delay into account, we do not expect prices of concrete and cement to come down before the summer of 2022.” 

“Due to the value chain disruptions, we expect shortages of timber and steel to remain an issue until at least early 2022. Therefore high prices for timber and steel for construction projects will remain for the coming quarters before settling down.”